After following a negative trend for three consecutive days, the crypto market is at its best showing a significant bullish trend on its charts. altcoin It made a big comeback with the ‘s.
With altcoin leader Ethereum recording an increase of over 10% in value, the top tokens followed a similar trend, showing a strong rise on their respective charts.
THORChain (RUNE) Price Analysis
RUNE The price was briefly stuck between $4,897 and $6,252. During this time, the altcoin made several attempts to break through the resistance level. As market fluctuations increased, the THORChain token gained 55.25% in value in two days, after which the price remained flat.
Subsequently, the bulls rallied 55.58% over the next four days. Then the price remained stable for a while. The token then showed a downward trend for a while. After testing the low at $7,087, the bulls recently gained momentum and started an upward move.
The Moving Average Convergence Divergence (MACD) with an increasing green histogram indicates an increase in crypto buying pressure. Considering that the averages in the chart have also increased, it is predicted that the price may continue to gain value in the future.
If the market price continues to stay above the $8,957 resistance level, the bulls will gain momentum and will be ready to test the upper resistance level at $10,057. Additionally, if the price holds at this level, the Stacks token could move towards the $11,278 resistance level by the end of next week.
Stacks (STX) Price Analysis
STX The price showed a neutral trend for a while. The bulls then gained momentum, recording a jump of around 31%. The Stacks token then briefly traded in a closed range between $2,817 and $3,121. Additionally, the altcoin showed significant fluctuation during this time.
Following this, the bulls lost momentum and resulted in Stacks price testing the $2,617 low. After trading sideways for a while, the bulls gained momentum and recorded a 26.77% bounce before facing rejection at the $3.40 resistance level.
The technical indicator MACD shows a solid green histogram, highlighting a strong bullish sentiment in the cryptocurrency market. Additionally, the averages are exhibiting a rising pattern, indicating that a positive price movement may be coming for the STX price.
If the bulls gain strength again and push the price above the $3.40 resistance level, Stacks price will be poised to test the upper resistance level at $3.80 during the coming weekend. In the downside scenario, a reversal of the downtrend could push the price towards this month’s low of $2,817.
